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"Their experience building fun, useful, personalised mobile products aligns well with Yahoo's vision to create the best everyday mobile experience for our users. They will be a great asset as we expand Yahoo's mobile efforts and build a world-class mobile development organisation."

Stamped is a nine-person start-up with its main claim to fame a mobile app which lets users recommend restaurants, books, and music by "stamping" them with their seal of approval.

With the acquisition Stamped plans to shut down its operations by the end of the year. The company will now be responsible for creating a new mobile app and New York-based engineering office for Yahoo.

"As for our team's next step, we couldn't be more thrilled to join Yahoo. As a team of mostly former Googlers, we've all worked with and are big fans of [Mayers]. So when an opportunity arose to become a part of the team at Yahoo, we jumped," said Stamped founders in a letter to company supporters.

"As entrepreneurs, it's never easy to walk away from something you built from the ground up, but the folks we met with at Yahoo are simply top-notch and we're thrilled to be joining them."